SBA Update

September 5, 2017

Investors continued to add floating-rate SBAs to their portfolios last week with the majority of activity focused on seasoned paper. In addition, portfolio managers looked to add yield as they extended duration by adding DCPCs. Investors are looking forward to the September DCPC auction, as recent supply of fixed-rate SBAs has been limited.


Floating-Rate 7(a) Pools


Fixed-Rate (DCPC and SBIC) Pools



Government Guaranteed Loan Trading


After multiple new issue floating-rate pools came to the market in recent weeks, investors focused on seasoned pools trading in the secondary. Fixed-rate SBA investors are looking to the September DCPC auction this week to satisfy current demand.


Greg Roll, CFA

Senior Vice President

Vining Sparks

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